Date: 29/01/2009

Cirrus Logic fiscal Q3 2009 revenues slide by 17.8% compared to previous quarter

Cirrus Logic's revenue for the 3rd quarter of fiscal 09 was $43.8 million compared to $48.9 million during the third quarter of fiscal year 2008, and $53.3 million in the previous quarter. Gross margin for the quarter was 55 percent, compared to 56 percent for the third quarter of fiscal year 2008 and 56 percent in the previous quarter.

“Our third quarter financial results reflect the sudden decrease in the bookings rate midway through the quarter as a result of the global economic downturn,” said Jason Rhode, president and chief executive officer, Cirrus Logic. “Despite these difficult global economic conditions, Cirrus Logic remains financially solid with a strong balance sheet, and we continue to have robust design win activity for new products. We believe that continued investment in our strategic growth programs will help drive long-term opportunities for revenue and market-share growth as demonstrated by our successes in portable audio.”